Euro hits new high against U.S. dollar

The Associated Press
November 23, 2007

BERLIN: The euro hit a new high against the U.S. dollar in thin trading Friday as speculation continued that the American credit crisis will lead to another rate cut from Washington. The dollar has been falling against the euro, the pound and other currencies since August amid fears for the health of the U.S. economy, stoked by the subprime credit crisis. Meanwhile, German Chancellor Angela Merkel said that the strong euro and high oil prices pose a risk to the country’s economy — Europe’s largest…. more